India has solidified its position as the top global talent destination with a digital talent pool exceeding 1.6 million as of FY2022E – Suresh Venkatachari founder, and promoter of SecureKloud Technologies
Suresh Venkatachari, SecureKloud Technologies
In the 21st century, artificial intelligence (AI) has emerged as a transformative force, reshaping industries, driving economic growth, and revolutionizing the way we live and work. India, with its burgeoning technology ecosystem and a young, dynamic workforce, has the potential to become a global AI powerhouse. However, there is a significant challenge hindering this progress: the growing gap between the demand for AI talent and the existing talent base.
ADVERTISEMENT
As per a recent Nasscom report released earlier this year, India's cities have emerged as leaders in the Asia-Pacific region when it comes to the concentration of artificial intelligence professionals. Citing the report, Suresh Venkatachari, one of the pioneers in digital transformation and AI integration says, "India has not only claimed the top spot in AI skill penetration and AI talent concentration but has also clinched the fifth position in terms of AI scientific publications. Impressively, India's 'AI Skills Penetration Factor' stands at an astounding 3.09, the highest among all G20 and OECD countries. Across the nation, our thriving tech hubs have not only attracted but also nurtured a formidable pool of high-caliber AI talent." He goes on to highlight, "Among these tech-savvy cities, Bengaluru stands out as a shining example, boasting a workforce ranging from 64,000 to 69,000 professionals, firmly establishing itself as the second-largest AI talent hub globally. It comes second only to San Francisco, which boasts an AI workforce ranging from 68,000 to 73,000 professionals."
However, Nasscom also highlights that while the United States has the most significant gap of 77.5% between the supply of available talent and the demand for AI professionals, India holds the second position on this list with 51.2%. Shedding light on the current disparity between AI talent availability and demand, Suresh Venkatachari, points out, "In the United States, the employed AI talent base stands at 676,000, whereas the demand for such talent is as high as 1,200,000. Similarly, in India, we see figures of 416,000 employed AI professionals against a demand of 629,000."
According to the International Data Corporation, the AI market in India is poised to experience a robust compound annual growth rate (CAGR) of 20.2 percent. It is projected to increase from $3.1 billion in 2020 to a substantial $7.8 billion by 2025. India, renowned for its thriving tech ecosystem and global standing as an IT outsourcing hub, stands at the forefront of this AI revolution. Nevertheless, to fully unlock the potential of AI and maintain competitiveness on the global stage, India must confront a critical challenge of bridging the gap between the existing AI talent pool and the escalating demand.
Being optimistic, Suresh Venkatachari, founder and promoter of SecureKloud Technologies says, “Given the widespread popularity of engineering as a career choice in India, training programs in fields like computer science and data analytics have significantly enriched the talent pool available for AI research. Furthermore, the country's substantial population, which is an asset for machine learning, particularly reliant on extensive datasets, positions India as a potential leader in the world of AI.”
However, despite its substantial talent pool, the underinvestment in infrastructure and the absence of a conducive framework have posed obstacles to the advancement of AI. Although the nation has achieved considerable progress in e-governance and its smart city initiatives, there is a pressing need for increased investment in cloud infrastructure and cybersecurity.
In response to a recent development, Mr. Suresh Venkatachari, states, "The government's recent initiative to establish three Centers of Excellence for the development of AI in India and its commitment to leverage AI for the nation is a commendable step forward. This will aid in cultivating the essential core competencies in AI and design thinking required to generate tangible outcomes. This is particularly significant as the country anticipates a substantial increase in demand for data science and AI professionals, with estimates surpassing 1 million professionals by the year 2024."
When considering the comprehensive strategy that India should embrace to tackle the AI talent gap, Mr. Venkatachari underscores that investing in education stands as the paramount step. It is imperative for India to overhaul its educational system, incorporating AI into the curriculum from an early stage. This objective can be accomplished through partnerships between educational institutions and industry stakeholders, alongside government initiatives aimed at advancing AI education. He also stresses the importance of motivating current professionals to enhance their AI skills through upskilling and reskilling programs.
Additionally, Suresh Venkatachari founder and promoter of SecureKloud Technologies emphasizes, "The government possesses a pivotal role in this endeavor, which includes investments in AI research and development, offering incentives to AI startups, and formulating policies that facilitate the adoption of AI. Equally crucial is the need to raise awareness about the significance of AI and the career prospects it holds."
Collaboration with international organizations, institutions, and experts can help India access global knowledge and expertise in AI and private sector in India has a significant role to play here, he adds.
Bridging the AI talent gap is not just a necessity but an opportunity for India to position itself as a global AI powerhouse. The potential benefits, including economic growth, job creation, and innovative solutions to societal challenges, are immense. However, this endeavor requires a concerted effort from the government, educational institutions, the private sector, and individuals.
Mr. Suresh firmly believes that to unlock India's immense potential in artificial intelligence (AI), strategic investments are imperative. This involves introducing AI education at all levels, from schools to universities, alongside vocational training programs for upskilling. Collaboration between academia and industry should be strengthened to bridge theory and practical application, fostering innovative research and internship opportunities. Furthermore, reskilling initiatives must cater to professionals adapting to the evolving AI landscape. The collective commitment to these efforts is essential as India strives to meet domestic AI demands and make a substantial impact on the global AI stage, emphasizing the urgency of action to close the AI talent gap and drive technological progress.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
